NE BUSINESS BUREAU
CHENNAI, MAY 14
The economic stimulus package announced by the Finance Minister Nirmala Sitharaman will inject the much-needed liquidity for non-banking finance companies (NBFCs) and MSMEs, said Venu Srinivasan, TVS Motor Company here on Thursday.
In a statement issued here, he said “We welcome the comprehensive and highly progressive measures announced by the Finance Minister today, injecting much-needed liquidity for non-banking finance companies (NBFCs) and MSMEs (micro, small and medium enterprises). The announcement of Rs 3 lakh Crore collateral-free automatic loan is an exemplary move to boost the industry sentiment. This will augment liquidity and help MSMEs revive the business during these challenging times. The large credit guarantee will be a great step to restore the supply chain which was heavily impacted by the shutdown. The massive fiscal stimulus will help improve the impacted financial system and the positive business perception will stimulate demand. These measures will kick-start financial activity and help rebuild the economy during the pandemic,” the statement adds.
